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How much of the loss can the taxpayers deduct

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Question - Melinda and Riley are married taxpayers. During the year, they completed a single capital asset sale in which a loss of $120,000 is realized on the sale ($15,000 amount realized, less $135,000 adjusted basis) of qualified small business stock. How much of the loss can the taxpayers deduct?

a. $3,000

b. $53,000

c. $100,000

d. $103,000

e. $120,000

Reference no: EM132431790

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